Cedar Woods Properties Limited · ASX:CWP
Cedar Woods Properties — Shareholder Meeting (November 2012)
29 slides from Cedar Woods Properties's shareholder meeting presentation, Nov 2, 2012
Slide 1: 2012 Annual General Meeting
2012 ANNUAL GENERAL MEETING 2nd November 2012
Slide 2: Chairman's Address
CHAIRMAN’S ADDRESS Chairman William Hames 2
Slide 3: Agenda
AGENDA ► Chairman’s Address ► Managing Director’s Review ► Formal Business • Ordinary Business: Consideration of Financial Report • Ordinary Resolution 1: Ratification of Share Issue • Ordinary Resolution 2: Election of Director • Ordinary Resolution 3: Remuneration Report • Ordinary Resolution 4: ‘
Slide 4: 2012 Highlights
2012 HIGHLIGHTS ► Record profit, earnings and dividend ► Successful placement and share purchase plan ► Strengthened balance sheet ► Regional expansion commenced ► Key acquisitions added to project pipeline to drive future earnings ► Williams Landing Town Centre progressing ► Recent share price appr
Slide 5: FY2012 Financial Performance
FY2012 FINANCIAL PERFORMANCE FY12 ($m) FY11 ($m) Change (%) Revenue 170.5 131.8 29% Profit before income tax expense 49.3 40.2 22% Net profit after tax 34.3 28.0 22% Earnings per share 53.2 cents 45.8 cents 16% Dividends per share 25.0 cents 23.0 cents 9% 5
Slide 6: Track Record of Growth and Balance Sheet Strength
TRACK RECORD OF GROWTH AND BALANCE SHEET STRENGTH 1 Gearing defined as net bank debt / book equity 6
Slide 7: Dividend Policy
DIVIDEND POLICY 30.0 100.0% Dividends per share (cents) Dividend payout ratio (%) 25.0 80.0% 20.0 60.0% 15.0 40.0% 10.0 20.0% 5.0 0.0 0.0% 2008 2009 2010 2011 2012 Interim Dividend Final Dividend Payout Ratio ► Fully franked interim dividend of 11 cents per share paid on 30th April 2012 ► Fully fran
Slide 8: Managing Director's Review
MANAGING DIRECTOR’S REVIEW Managing Director Paul Sadleir 8
Slide 9: Project Locations
PROJECT LOCATIONS 9
Slide 10: Victorian Projects Update
VICTORIAN PROJECTS UPDATE ► Realm Camberwell ► 24 of 27 homes presold, civil works are complete ► Construction of first homes have commenced, with at least one stage of seven homes expected to settle in FY2013, with the balance in FY2014 ► St Albans ► 6.8ha site acquired for $12m with anticipated yi
Slide 11: Williams Landing Video
WILLIAMS LANDING VIDEO To view this video online, please visit: http://www.williamslanding.com.au/Williams_Landing_Flythrough.asp 11
Slide 12: Williams Landing Town Centre
WILLIAMS LANDING TOWN CENTRE Williams Landing - artist’s impression Williams Landing Masters Home Improvement store - artist’s impression 12
Slide 13: Victorian Projects
VICTORIAN PROJECTS Realm - artist’s impression 13
Slide 14: WA Projects Update
WA PROJECTS UPDATE ► Piara Central ► First stage (60 lots) close to completely sold, with settlements due in the second quarter of FY2013 ► Construction on second stage (62 lots) scheduled for completion in the second half of FY2013 ► Elements, South Hedland ► Online registration process for express
Slide 15: WA Projects
WA PROJECTS i TheRivergumsy er A harrisdale reen.
Slide 16: Community Programs
COMMUNITY PROGRAMS ► EcoVision at The Kestrels ► Award-winning sustainability initiative ► Neighbourhood grants ► More than $60,000 awarded to sporting, welfare, cultural and recreation groups Interior of one of the EcoVision homes at The Kestrels ► Education sponsorships ► Sponsorship of the Proper
Slide 17: Residential Market Drivers
RESIDENTIAL MARKET DRIVERS ► Population growth – long term driver ► Housing supply – under supply set to continue ► Confidence ► Employment ► Availability of finance ► Incentives ► Affordability (prices, interest rates) ► Rental alternative 17
Slide 18: Residential Land Sales
RESIDENTIAL LAND SALES Source: HIA-rpdata 18
Slide 19: Residential Land Sales
RESIDENTIAL LAND SALES Source: HIA-rpdata 19
Slide 20: Company Outlook
COMPANY OUTLOOK ► Forecast FY2013 net profit of approximately $34 million based on sales at current levels ► More than $160 million in presales in place (as at 1Q FY2013) ► Positive outlook, bolstered by continued demand for CWP’s projects, strategically located in WA and VIC growth regions and impr
Slide 21: Formal Business
- i . - Cedar @ woods PROPERTIES LIMITED
Slide 22: Ordinary Business
ORDINARY BUSINESS Consideration of Financial Report To receive and consider the financial report for the year ended 30 June 2012 and the accompanying directors’ report, directors’ declaration and auditor’s report. 22
Slide 23: Ordinary Resolution 1: Ratification of Share Issue
ORDINARY RESOLUTION 1 Ratification of Share Issue That for the purposes of ASX Listing Rule 7.4 and for all other purposes, Shareholders hereby ratify and authorise the allotment and issue of 7,250,000 fully paid ordinary Shares to institutional investors on the terms and conditions set out in the E
Slide 24: Ordinary Resolution 2: Re-election of Director
ORDINARY RESOLUTION 2 Re-election of retiring director That William G Hames, BArch (Hons) MCU Harvard LFRAIA, MPIA, FAPI (Econ), having retired in accordance with the company’s constitution and, being eligible, offers himself for re-election, be re-elected as a director of the company Summary of 203
Slide 25: Ordinary Resolution 3: Remuneration Report
ORDINARY RESOLUTION 3 Remuneration report That the remuneration report that forms part of the directors’ report for the financial year ended 30 June 2012, be adopted. The remuneration report is set out in the directors’ report on pages 8 – 14 of the 2012 financial report. Please note that the vote o
Slide 26: Questions
Cedar @ Woods PROPERTIES LIMITED QUESTIONS.
Slide 27: Ordinary Resolution 4: Board Spill Resolution
ORDINARY RESOLUTION 4 If at least 25% of the votes cast on Ordinary Resolution 3 are against that resolution, to consider, and if thought fit, pass the following resolution: Board spill resolution That: • A specially convened general meeting (“the Spill Meeting”) be held within 90 days; and • All Di
Slide 28: Disclaimer
DISCLAIMER While every effort is made to provide complete and accurate information, Cedar Woods Properties Limited does not warrant or represent that the information in this presentation is free from errors or omissions or is suitable for your intended use. Subject to any terms implied by law and wh
Slide 29: Award Winning Developer
Cedar @ Woods Award Winning Developer
Cedar Woods Properties — Shareholder Meeting (November 2012) on 6ix